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Square Mile landmark to fetch £80m

Participants in the Lord Mayor’s Show outside the Royal Exchange yesterday (Ben Cawthra)

The Royal Exchange in the heart of the City is about to be sold for £80m. The grade I listed landmark, which contains luxury shops and a restaurant, was quietly put on the market by its owners this autumn.

It is held by Alanis Capital and IBRC, the government agency that is winding down Anglo Irish bank. Alanis is the property vehicle of Ireland’s McCormack family.

The Royal Exchange was set up in 1566 by the financier Sir Thomas Gresham, who hoped to supplant the Antwerp bourse. It was twice destroyed by fire and rebuilt. The present building was designed by Sir William Tite in the mid-1840s. It was converted to offices, with the retail court added in 2001.

The owners are selling a 104-year…

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